AUDITED RESULTS ANNOUNCEMENT FOR THE SIX MONTH ENDED JUNE 30, 2018
Fajar Paper posts the best ever result for the 1st half year ended June 30, 2018 with a historical high sales and financial performance. 
Key highlights as compared to the same period in 2017:
o   One and half time jump in the production volumes to 672,000 tons from 450,000 tons.
o   Momentous growth of 10 folds in export sales volumes to 183,000 tons from 17,000 tons.
o   Increase of 11% in local sales volumes to 461,000 tons from 416,000 tons.
o   More than two folds jump in the EBITDA to IDR 1,217 billion (USD 88 million from IDR 516 billion (USD 39 million)
o   Net Income more than doubled to IDR 439 billion (USD 32 million) from IDR 183 billion (USD 14 million)
 
All figures are quoted
in Rp billions unless otherwise stated
Six months to
June 30th, 2017
 (Audited)
Six months to
June 30th, 2018
(Audited)
Net Sales
2,885
4,672
Gross profit
521
1,328
Operating income
408
1,115
EBITDA
EBITDA in USD millions
514
39
1,216
88
Net Income
182
439

Jakarta, 31 July 2018: PT Fajar Surya Wisesa TBK (FASW.JK), also known as Fajar Paper, has released its audited financial statements for the six-month period ended 30 June, 2018.

Fajar Paper has delivered its all-time high sales and financial performance. It has benefitted from the favorable business developments both in the international and local markets. The boost in exports volume to China, Malaysia, Vietnam, Philippines and Middle East, growth in local consumer goods (FMCG) sector, food & beverage, e-commerce markets and an overall better sales realization have led to the high surge in the total sales volumes and revenue respectively. New capacity available through Paper Machine 8 also supported this growth.

In comparison with the like to like period in 2017, sales volumes for 2018 increased by 49% from 433,330 tons to 644,090 tons, including increase in export sales volumes from 17,300 tons to 183,100 tons. The average selling prices in the domestic market and for exports have increased by 11% and 30%, respectively. High-performance light weight paper sales accounted for 74%, up from 63% over the same period last year, in line with our commitment to provide economical value to our domestic customers, as well as to cater to overseas market needs. 

Gross profit has increased to 28%, compared to18% during the same period last year. Higher volumes, selling prices, lower recovered paper costs & mix, and higher operating efficiencies have contributed to the high margins. This led to the all-time high EBITDA at USD 88 million for this period compared to USD 39 million for the first half year last year.

Looking ahead, in spite of the general uncertainty prevailing due to global trade tensions and changing landscape of monetary policies, immediate demand of packaging paper remains stable. Fajar Paper is focusing to increase its exports volumes to the neighboring countries.

Fajar paper is also looking for inorganic growth opportunities in the region to increase its market penetration.

About Fajar Paper:

FajarPaper is a leading manufacture of packaging paper in Indonesia. It is Forest Stewardship Council-Chain of Custody (FSC-CoC), ISO 9001, ISO 14001, and OHSAS 18001 certified, as well as a Clean Development Mechanism (CDM)and Joint Credit Mechanism (JCM) registered. It has a large production capacity to supply quality & innovative packaging paper products.

To learn more about this press release, please contact FajarPaper’s Investor Relations Department, by sending your inquiries to ir@fajarpaper.com, or +62 21 344 1316.

More information can also be found from our website www.fajarpaper.com